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Oct 29, 2012
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if the situation had changed, can the mayor evacuate greater proportion of the city or is he now locked into what he originally said. hundreds of thousands of people find they should have been evacuated but have not been in manhattan. >> any time anyone issues a mandatory or even a recommended evacuation, you should pay heed to it and do it. i'll give you an kpaexample. a friend worked for one of your competitors and said the front side of her building is evacuation a. the back side is not. what should i do. even if i were four blocks away from evacuation a, i would be moving out any way. that's the kind of things that people need to realize. even though evacuation a area may be well defined, it doesn't mean that areas outside are going to be affected too. when you think about manhattan, it's above sea level but not by much. people need to take it seriously. it's not going to destroy buildings in manhattan but it's going to make it very inconvenient, no power, difficult to get groceries and difficult to get around and that's what they need to pay attention to. >> we're so used to in the
if the situation had changed, can the mayor evacuate greater proportion of the city or is he now locked into what he originally said. hundreds of thousands of people find they should have been evacuated but have not been in manhattan. >> any time anyone issues a mandatory or even a recommended evacuation, you should pay heed to it and do it. i'll give you an kpaexample. a friend worked for one of your competitors and said the front side of her building is evacuation a. the back side is...
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Oct 5, 2012
10/12
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boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> get a market flash and go to courtney regan. >> thank you very much. take a look at shares of pure one. we're seeing them sit at levels we haven't seen since 2004. positive comments are out. the investment story is only just beginning. e commerce expected to drive sales. op op oppenheimer has increased their price target. >> it's the end of an era over at olive garden. >> when did you learn to be so generous. >> guess it runs in the family. >> olive garden, when you're here, you're family. >> after 14 carries the garden is scrapping the when you're here family slogan. parent restaurant is looking to a new tag line and it's called
boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> get a market flash and go...
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Oct 30, 2012
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you've seen these kinds of things before, but, i mean, the effect on the city the size of atlantic city, i just wonder if you've seen anything like that. >> it's really amazing that first off in 15 months, you know, being from texas and fighting storms with all of our businesses for so many years to have to fight it in the first months is pretty interesting. what's amazing though, as strong as the storm was, that all the casinos, you know, went through it pretty good. just about everybody could open today if they would let us, and that's what we're hoping to see. >> a question if they would let us. governor christie has just been hammering, hammering the mayor of atlantic city. is there internecine strife, or is there something to it? >> you know, governor christie likes to hammer, and i guess "today" he chose the mayor of atlantic city. but it was not a category 3 storm, and you didn't have 15 around 20-foot tidal surge. you know, like i said we're right there on the marina and we came out pretty good. our biggest obstacle was a boat wasn't tied up right and did damage to our marina an
you've seen these kinds of things before, but, i mean, the effect on the city the size of atlantic city, i just wonder if you've seen anything like that. >> it's really amazing that first off in 15 months, you know, being from texas and fighting storms with all of our businesses for so many years to have to fight it in the first months is pretty interesting. what's amazing though, as strong as the storm was, that all the casinos, you know, went through it pretty good. just about everybody...
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Oct 16, 2012
10/12
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probably is the reason if you were to own citi to own citi, the international story. you know, if you're owning jpmorgan because you believe that there is leadership there that could grow the overall business, you own citi because of the international component and that's one positive with the new ceo coming in, but at this point shareholders are unclear in terms of what this is telling us and what's ahead because we are not getting enough information here from them. >> it's that international growth that has been a positive surprise which is why a lot of us are so shocked this morning. maria see you tonight for debate coverage. thanks for coming to the phone. >> thanks so much. >> maria bartiromo joining us on the business news line. gary kaminsky, more on the departure. i'd love to hear your take. >> let me run through some notes with you, obviously, i've tried to speak to as many people, shareholders, bankers, competitors, those that feel that they know something about what may have taken place on the board so let's go through a couple of thing, first want to point
probably is the reason if you were to own citi to own citi, the international story. you know, if you're owning jpmorgan because you believe that there is leadership there that could grow the overall business, you own citi because of the international component and that's one positive with the new ceo coming in, but at this point shareholders are unclear in terms of what this is telling us and what's ahead because we are not getting enough information here from them. >> it's that...
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Oct 1, 2012
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] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> here's something we don't often get to talk about on cnbc, european strengths. europe defeating the u.s. to retain the ryder cup. martin kaymer giving europe the 14th point it needed to retain possession of the cup. that brings us to this morning's "squawk on the tweet." complete the following sentence -- europe may take our ryder cup, but they'll never take our, blank? tweet us. we have a new twitter handl handle, @squawkstreet is the new twitter handle. they'll never take our? >> place of employment refs. >> wasn't it great to see great refs? >> the saints game, even some controversial calls still, although that's -- there's something more comfortable about it knowing it comes from a full-time ref. >> seriously. someone who's got skin in the game with a 401(k) coming -- the new guys. use the ford motor play, the gm union negotiation. the new guys come in, get shafted. the old guys do well. >> they went to a define contribution from defined benefi
] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> here's something we don't often get to talk about on cnbc, european strengths. europe defeating the u.s. to retain the ryder cup. martin kaymer giving europe the 14th point it needed to retain possession of the cup. that brings us to this morning's "squawk on the tweet." complete the following sentence -- europe may take our ryder cup, but they'll never take our, blank? tweet us. we have a new twitter...
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Oct 26, 2012
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the mgn grande in sin city hoping to do just that. we'll take you live for the latest on mgm's stay well rooms. >>> vegas gets a first today. hotel rooms designed to make you more healthy. the 44 wellness rooms debut at the mgn grande. each room has features designed to reverse jet lag and better regulate your body, while they say removing toxins and allergens. the hope is that health-conscious travelers will pay 20% to 30% more to stay in them. we have the features, co-founder, and president and coo of mgm grande drove the project through. both of them joining us live. thank you for joining us. we actually sent a camera crew to the rooms. >> great. >> the first thing we shot here is the shower. >> yeah. >> that injects -- look at the shower -- injects vitamin c into the stream. what is it for? >> vitamin c is great for your skin and hair and scripps cletr chlorine from water. guest enjoy smoother skin, better hair. >> the lights that mimic dawn and blue flashing lights that remove jet lag. >> the dawn simulator is the scientifically
the mgn grande in sin city hoping to do just that. we'll take you live for the latest on mgm's stay well rooms. >>> vegas gets a first today. hotel rooms designed to make you more healthy. the 44 wellness rooms debut at the mgn grande. each room has features designed to reverse jet lag and better regulate your body, while they say removing toxins and allergens. the hope is that health-conscious travelers will pay 20% to 30% more to stay in them. we have the features, co-founder, and...
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Oct 18, 2012
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hinterlands and coming to the cities. so that housing market, unlike in spain, unlike in ireland, can actually be filled by people because there are people moving to the cities. i am more constructive on china. i do believe that we're seeing a trough in the decline right now. >> interesting. hang seng is up eight straight days. the highest level since march. morgan stanley beating expectations. the wall street firm reporting earnings of 28 cents a share, 4 cents ahead. estimate, of course, we've got to work our way through xdva, which for those who aren't familiar. >> the cost of them buying back their debt. >> debt valuation adjustment, dva. >> it becomes more expensive as it gets -- it becomes less expensive the worse things are, the more their spreads widen. their spreads have narrowed. thankfully, we're going to be getting rid of this soon because it really has made it very difficult to do apples to apples comparison. some analysts include it. some don't. investors, some do, some don't. when you get down to it, in ter
hinterlands and coming to the cities. so that housing market, unlike in spain, unlike in ireland, can actually be filled by people because there are people moving to the cities. i am more constructive on china. i do believe that we're seeing a trough in the decline right now. >> interesting. hang seng is up eight straight days. the highest level since march. morgan stanley beating expectations. the wall street firm reporting earnings of 28 cents a share, 4 cents ahead. estimate, of...
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Oct 19, 2012
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the chairman of the board at citi. >> that i don't know. i think executive compensation has much to do with this. >> you look at survey, ken, and unscientific they may be but the traders and bankers still believe that their comp is going up for the most part not down. are they delusional? >> i think they are delusional in this economy with this political, not economic and financial, just economic and financial, with this political uncertainty. my advice would be to executives and boards and et cetera be careful because there's an election in a month. it's a very volatile political atmosphere. and it's fair game executive comp in times of financial uncertainty. >> yeah. so you think that's the bigger factor -- most of the people on our air point to return on equity and the economic engine that drive earnings at these banks is not what it used to hence comp has to come down. do you think it's the fair if thoerp raise salaries and bonuses there would be hell to pay on the hill >> there's some concern about that. i do agree with you. i agree mo
the chairman of the board at citi. >> that i don't know. i think executive compensation has much to do with this. >> you look at survey, ken, and unscientific they may be but the traders and bankers still believe that their comp is going up for the most part not down. are they delusional? >> i think they are delusional in this economy with this political, not economic and financial, just economic and financial, with this political uncertainty. my advice would be to executives...
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Oct 15, 2012
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the head of the partnership for new york city. i spoke to her recently and she told me that the business community in new york has a message for washington. >> business leaders are discouraged and feel washington is very insular, that they're looking at their own interests, rather than the country's interests. and they're pretty frustrated. i think that we had a great meeting with omb head jeff zion a few weeks ago and that really made a difference because he was presenting a very practical approach. >> so who else has been coming to kathryn's meetings? a list of the washington heads. including treasury secretary tim geithner, house democratic leader nancy pelosi, senator rob portman, eric cantor, erc skin bowles and alan simpson all familiar names but the key sticking point is whether a business group would support a deal that includes raising taxes or revenues in washingtonspeak. i asked her that question. >> what we're concerned about in particular is that the tax package be done properly so that we deal with a combination of,
the head of the partnership for new york city. i spoke to her recently and she told me that the business community in new york has a message for washington. >> business leaders are discouraged and feel washington is very insular, that they're looking at their own interests, rather than the country's interests. and they're pretty frustrated. i think that we had a great meeting with omb head jeff zion a few weeks ago and that really made a difference because he was presenting a very...
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Oct 23, 2012
10/12
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boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi® card to get the benefits of private pass. more concerts. more events. more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with a citi card. [ crowd cheering, mouse clicks ] >>> on a down day, the hard drive makers are the biggest losers. western digital reporting a first quarter bead. weak pricing and delays because of windows 8. you can see today it gets a sell rating over at capital iq on the back of those earnings. and seagate technologies reports next week, and it's suffering clit ral damage there. >> thanks a lot, bertha. today's selloff started overseas, and now there's only a few moments left in europe's trading day. going to be interesting to see how it affects us here in the u.s. >>> simon hobbs, art cashin made the point earlier on, if you need to sell, sometimes you go where the market is sti
boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi® card to get the benefits of private pass. more concerts. more events. more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with a citi card. [ crowd cheering, mouse clicks ] >>> on a down day, the hard...
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Oct 4, 2012
10/12
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sometimes it means the government travellers will have to stay farther out of the city center because they won't find rooms available at the rates they're authorized to play, but that will vary market by market. i think ultimately the business and the vacationers will drive the rates in the next year. we talk about 5% to 7% next year, which is a pretty bullish number. >> as far as the headlines are concerned, you beat by four cents. is it fair to say that actually that's not due to demand and pricing. it's more to do with the fact that you've cut costs by $23 million more than you expected is and you brought more than expected which flants your eps figure. >> yes. i think the earnings report we reported today compared to what people were expecting was mortgagely driven by unusual or one-time items, admin costs, those sorts of things. our same-store sales numbers were less than expected an our fees were more or less than what was expected. so that's a fair comment. we posted really good growth, so we feel good about that. >> in the meantime you're also maintained your midpoint. you are
sometimes it means the government travellers will have to stay farther out of the city center because they won't find rooms available at the rates they're authorized to play, but that will vary market by market. i think ultimately the business and the vacationers will drive the rates in the next year. we talk about 5% to 7% next year, which is a pretty bullish number. >> as far as the headlines are concerned, you beat by four cents. is it fair to say that actually that's not due to demand...
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Oct 31, 2012
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tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning thing in this city. it's hard to make new york work without the subways. >> it's not even if people are in their offices. phone service is patchy when it comes to land lines and cell phones and there are some entire buildings, citigroup has a building at 111 wall, 1,800 employees there, they can't get into that building for weeks. >> look at this. this is context in which we're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still 20 some odd people dead in new york a
tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning...
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Oct 8, 2012
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it's the third largest city in the united states of america. there's no reason that it shouldn't be among the top tier in terms of innovation technology companies that get built. groupon being one example. but at lightbank, we're in over 50 companies. doing amazing things. this is just one more part of the cocktail that gets built that allows us to get great entrepreneurs and great ideas and help get them off the ground. >> eric, from your perspective as venture capitalists and co-founders of groupon, the stock is down more than 50%. i'm being generous. since it ipo'd at the new york stock exchange. i'm wondering what you think went wrong when it came to this issue. >> first of all, we're not here to talk about groupon -- the guy you should talk to is andrew, the ceo. but i think in general, when you look at the recent ipo of facebook, zynga, groupon, there's no question that these companies have been very volatile and investors have bounced around quite a bit over the past few months. and why that is, i'm not an expert in the field and couldn'
it's the third largest city in the united states of america. there's no reason that it shouldn't be among the top tier in terms of innovation technology companies that get built. groupon being one example. but at lightbank, we're in over 50 companies. doing amazing things. this is just one more part of the cocktail that gets built that allows us to get great entrepreneurs and great ideas and help get them off the ground. >> eric, from your perspective as venture capitalists and...
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Oct 24, 2012
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citi calls it a nice beat. says they can probably effectively grow revenues during this transition without the key is whether or not they grew on the user experience in the meantime. >> i think that one of -- this call unlike the last one was full of facts. data which indicates advertisers like it. a bold claim. 40% of users are likely to use facebook with desk top but 70% use it on mobile which is why proctor & gamble reports tomorrow. walmart. amazon. capital one with the best bank quarter all like facebook. i wouldn't be surprised if gm didn't want to come back on facebook and maybe they say, hey, nice to meet you. we're going with the other guys. >> there is a concern though that too many sponsored stories hitting a communications device and people start to say you are loading me up too much here. they want a run rate. at $1 million a day. they went to $3 million a day. they gave us numbers they had never done. they said they won't again. at least it gives some people a sense as to ramping of this significa
citi calls it a nice beat. says they can probably effectively grow revenues during this transition without the key is whether or not they grew on the user experience in the meantime. >> i think that one of -- this call unlike the last one was full of facts. data which indicates advertisers like it. a bold claim. 40% of users are likely to use facebook with desk top but 70% use it on mobile which is why proctor & gamble reports tomorrow. walmart. amazon. capital one with the best bank...
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Oct 22, 2012
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the tale of two cities, it's the worst thing that could happen when active managers try to closet index. >> you try to skate to where the puck is going. that's how you're successful in investing and closet indexing as we pointed out that day, the closet index that all essentially got market weighting positions in apple. look at what happened last week in google. same thing, if you look at the mutual funds, the guy who tracked looked at it. google was the same thing. market weighted. why do you need to know about this? because when you get the closet index owning essentially the market weighting, where is the incremental buying coming from? you saw that in apple and google. he mentions to me, the gentleman who tracks this stuff, he says this is where the puck is going. take a look, we put a list together about where the closet indexes who are essentially trying to track certain indexes are underweight. china, financials, indonesia, bhp and select energy names. this is how when you track the closet indexes, you're able to take advantage of where they are and where they are not. and if you
the tale of two cities, it's the worst thing that could happen when active managers try to closet index. >> you try to skate to where the puck is going. that's how you're successful in investing and closet indexing as we pointed out that day, the closet index that all essentially got market weighting positions in apple. look at what happened last week in google. same thing, if you look at the mutual funds, the guy who tracked looked at it. google was the same thing. market weighted. why...
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Oct 2, 2012
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meantime, we have the ceo of citi mortgage in the hot seat. while borrows like you may not be getting all the savings passed on to you. >>> as we go to break, take a look at the morning's early movers. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of expe
meantime, we have the ceo of citi mortgage in the hot seat. while borrows like you may not be getting all the savings passed on to you. >>> as we go to break, take a look at the morning's early movers. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. if we want to improve our schools......
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Oct 11, 2012
10/12
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we own city habitat, the largest rental brokerage market in the city. we're on the corcoran side, as you know. but it is becoming better and cheaper to own than to rent. there are a number of sources of data on that point. axio metrics which is a firm that follows the rental industry, in 98 out of 100 markets tested, it was cheaper to own than to rent. multi-family industry has literally priced itself out of the market and we are the beneficiary of that. >> finally, mr. smith, a number of hedge funds, large money management funds bought the convertible debentures. we focus on the 180-day lockup. do you expect there will be a lot of selling when that 180 days expires? >> i have no idea what they'll do long term. listen, i'm not focused on that. i'm focused on running the company, doing what's best for shareholders and that's why we're here today. >> you're having a good day so far. thanks for joining us. >>> i want to get back to our big news of the morning. sprint shares still up sharply on our reports and others that japanese company softbank in advanc
we own city habitat, the largest rental brokerage market in the city. we're on the corcoran side, as you know. but it is becoming better and cheaper to own than to rent. there are a number of sources of data on that point. axio metrics which is a firm that follows the rental industry, in 98 out of 100 markets tested, it was cheaper to own than to rent. multi-family industry has literally priced itself out of the market and we are the beneficiary of that. >> finally, mr. smith, a number of...
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Oct 12, 2012
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rare rocks are hitting the auction in new york city and pound for pound they're worth more than gold because they're from outer space. we explain in today's "million-dollar minute." >> the moon and even mars are for sale, in the world's largest meteorite auction ever. >> everything at this auction will be worth in excess of $2 million. >> reporter: prices are sky high for items that are out of this world. this meteorite was found in namibia and could sell for more than $200,000 because it bears a striking resemblance to the painting "the scream." together these chunks could sell for up to $380,000. this rare chunk of mars is called the tissint martian meteorite, it could fetch more than a quarter of a million dollars. >> meteorites are extraordinarily rare. if you take every meteorite that exists it weighs less than the world's annual output of gold. >> this piece is ten times more valuable than gold. for cnbc, i'm robert frank. >> that's a lot of money for some rocks. if you're interested in picking up one of the meteorites, the auctions event is this sunday in manhatt manhattan. >>
rare rocks are hitting the auction in new york city and pound for pound they're worth more than gold because they're from outer space. we explain in today's "million-dollar minute." >> the moon and even mars are for sale, in the world's largest meteorite auction ever. >> everything at this auction will be worth in excess of $2 million. >> reporter: prices are sky high for items that are out of this world. this meteorite was found in namibia and could sell for more...
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Oct 25, 2012
10/12
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whether it be radio shack, the old lafayette, circuit city. i remember when sharp was running circuit city. when i shop at best buy now, it is absolutely true, you call them, you deal with them and you just say wow, i would rather have amazon deliver the product to my house. >> there's also linens and things, bed, bath and beyond is now the best retailer. how does bby in everything that's kmod advertised. i wonder if there's room for any kind of return. >> bed bath, the stock was down hideously. it's taking out the millennium day. i have a bed bath that's very close to me. it's the first one, they're a jersey company, and i keep trying to price what amazon has, this is an impulse place, it does a lot of couponing. jc penny moves away from coup couponing. i do think that best buy in the end makes easily checkable products. what is that samsung? what number did you have on that tv? and then i go to amazon, i go to best buy. i price compare. i had the misfortune of trying to buy 60 inch best buy tv. i not that long ago, i wanted to do it on the p
whether it be radio shack, the old lafayette, circuit city. i remember when sharp was running circuit city. when i shop at best buy now, it is absolutely true, you call them, you deal with them and you just say wow, i would rather have amazon deliver the product to my house. >> there's also linens and things, bed, bath and beyond is now the best retailer. how does bby in everything that's kmod advertised. i wonder if there's room for any kind of return. >> bed bath, the stock was...
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Oct 3, 2012
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netflix the best performing stock on the s&p right now after citi reiterates its buy on the company following a consumer survey that indicates improving customer satisfaction and rising competitive position. metro pcs and leap wireless two of the wig losers following news pcs will merge with leap. let's get a look at the road match. the president and mitt romney facing off tonight in denver for the first presidential debate. we'll have a review of what will be covered and which candidate is likely to come out on top. plus lifelock making its trading debut. the stock trading down as much as 3%. ceo will join us live in a few moments. and silicon valley may be experiencing huge success, but the rest of california is struggling. find out why tech and social media might not be the economic engines the golden state needs. and the startup that could help you cut your cell phone bill in half. freedom pop ceo joins us. all that and more in the next hour. we'll start with kraft, though. the nasdaq investigating potentially erroneous trades today. want to send to bertha coombss for more on what happene
netflix the best performing stock on the s&p right now after citi reiterates its buy on the company following a consumer survey that indicates improving customer satisfaction and rising competitive position. metro pcs and leap wireless two of the wig losers following news pcs will merge with leap. let's get a look at the road match. the president and mitt romney facing off tonight in denver for the first presidential debate. we'll have a review of what will be covered and which candidate is...
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Oct 9, 2012
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thousands of police around the city. simon hobbs, that did not stop the protesters at all. >> absolutely. i will show you three symbolic acts as the most dominant figure in the european crisis went to the economy that the critics argue she is destroying through austerity. this is probably what will be on the front paging tomorrow morning. on the square next to parliament four people dressed in military uniforms riding and waving black and white and red swastika flags and stuck their hands out in a nazi salute. a lot of banners reading merkel out, this is not a european union, this is slavery. this is an image with huge potency around europe. the second is angela merkel at the news conference stood next to the greek prime minister. symbolic for two reasons. on the one hand she is saying i am a good european and i won't force you out of the eurozone. we have given you lots of money and on the second, particularly important, at home she is saying there will be no more money for you. this isn't a transfer union. there you se
thousands of police around the city. simon hobbs, that did not stop the protesters at all. >> absolutely. i will show you three symbolic acts as the most dominant figure in the european crisis went to the economy that the critics argue she is destroying through austerity. this is probably what will be on the front paging tomorrow morning. on the square next to parliament four people dressed in military uniforms riding and waving black and white and red swastika flags and stuck their hands...
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the tale of two cities, it's the worst thing to happen when active managers try to closet index. >> that is unbelievable. >> absolutely. >> and you look at how it's lagged the s&p for weeks now, forrer more than a month. >> and i was blown away, when i got this data last night, we showed two funds because i wanted to show it. i could show you 100 funds they've all got that 12% to 13% weighting in apple. guess what? that's probably why the stock topped out in the short-term. >> that's great stuff. >> yeah. >> back in the control room as usual. >> yeah. >> bob pisani is here. i know you're taking on a longer term issue today. >> yeah. everybody's talking about this lost decade in stocks. the editorial in the "wall street journal," ceo of blackhawk, i don't think he's looking at it quite the right way. here's the source of all this lost decade comment. the s&p on a numerical basis hasn't done much in the last 12 years. september 20th, 2000, we were about 1,437 where we are now. see this? we've got a whole decade where essentially we did a lot of ups and downs and ending up where we were bef
the tale of two cities, it's the worst thing to happen when active managers try to closet index. >> that is unbelievable. >> absolutely. >> and you look at how it's lagged the s&p for weeks now, forrer more than a month. >> and i was blown away, when i got this data last night, we showed two funds because i wanted to show it. i could show you 100 funds they've all got that 12% to 13% weighting in apple. guess what? that's probably why the stock topped out in the...